Streamflow burns 699.99 million STREAM tokens, cutting total supply to 300 million

Streamflow Foundation said it burned 699.99 million STREAM tokens in a single on-chain transaction on Sept. 23, reducing the token’s total supply from about 1 billion to 300 million. The move represents a 70% cut in supply. According to the foundation, the tokens that were burned were under its control. It also said STREAM has no active mint authority, meaning the destroyed tokens cannot be reissued through fresh minting. Streamflow, which operates on Solana, provides infrastructure for token vesting, staking, locking, airdrops, and distribution management. The foundation said the burn was a change to the token’s economic model and would not affect product operations, user vesting plans, staking services, or airdrop services, all of which will continue to run as usual. On-chain data showed STREAM supply at roughly 300 million after the transaction. Bitcoinist said the sharp supply reduction could alter expectations around future token dilution, while adding that the project’s long-term value still depends on platform usage, ecosystem revenue, and token holders’ willingness to participate in governance.